MINSK, June 20 (Xinhua) -- The National Bank of Belarus decided to reduce the refinancing rate from 10.5 percent to 10 percent starting from June 27, the country's central bank said Wednesday.

While the main rate will go down to 10 percent, the rates on standing facilities and bilateral liquidity support operations will also decline from 11.75 percent to 11.5 percent, the central bank said.

The bank explained its decision with the annual inflation that is slowing down. Forecasts for the state of economy, foreign trade, the currency market and the deposit market show that the emerging monetary and credit conditions will keep inflation within the targeted range.

Earlier, the Belarusian government plans to limit inflation to within 6 percent this year.

The central bank previously cut its refinancing rate to 10.5 percent on February 14, 2018.